PA finance expert, Stefan Knapp, has had a byline published in Finans.dk highlighting a new approach to talent management.
Stefan draws on findings from PA’s new talent management report, ‘The Future is Fluid’, that recommends leaders take a more fluid approach to identifying and retaining digital talent that can help develop companies' digital business models.
Our research reveals the talent management challenges facing today's CEOs and a practical way to overcome them
With a fluid approach, the chain of activities – attract, identify, deploy, develop and engage talent – will be deployed when a shift in market conditions and business strategy demand it. And the right people to take on this role are what Stefan refers to as the ‘digital gold’. These digital talents have courage, adapt easily and have the ability to create and handle disruptions that emerge due to new digital business models. They combine customer insights and market trends with the ability to think in terms of sustainable business and the creation of shareholder value.
Stefan says: “Companies need to identify this ‘digital gold’ as they have the right combination of leadership, innovation insight and strategic skills. These talents are ambitious, ready for change and constantly seek new opportunities – so it’s tricky to retain them."
So-called stretch challenges is one way to keep the best talents within the company: These tasks may be aimed for more senior people but when given to these new talents, it gives them the opportunity to grow and become even bigger assets to the company.
“Leaders must challenge new talents by letting them work with any task that occurs as a result of the constant changes in the market and that undoubtedly will affect the company’s digital business model," says Stefan.
Stefan Knapp is a business transformation expert at PA Consulting Group